ECCB Monetary Council Meets in St Kitts and Nevis

Feb 27, 2010

ZIZ News…February 26, 2010 – The stability of the Eastern Caribbean Currency Union (ECCU) financial sector will be high on the agenda when members of the Eastern Caribbean Central Bank’s Monetary Council meet in St Kitts and Nevis on Friday, 5 March 2010 for the 66th meeting of Council.

During the meeting, the Monetary Council, which is the highest decision making body of the ECCB, will also receive reports from the three Ministerial Sub-Committees of the Council:

The Ministerial Sub-Committee on Insurance Business, chaired by the Hon. Dr Ralph Gonsalves, Council member for St Vincent and the Grenadines, charged with seeking a resolution to the insurance sector crisis in the ECCU.

The Ministerial Sub-Committee on Offshore Business, chaired by the Hon. Harold Lovell, Council Member for Antigua and Barbuda, mandated to seek the speedy execution of the Tax Information Exchange Agreement (TIEAs).

The Ministerial Sub-Committee on Cooperatives, chaired by the Hon. Roosevelt Skerritt, Council Member for the Commonwealth of Dominica, responsible for seeking a speedy enactment of modern legislation for the effective regulation of the cooperatives sectors of the ECCU.

Following the meeting, Council Members will hold a media conference with representatives of the St Kitts and Nevis media during which they will field questions on the meeting’s Communiqu&eacute;.